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The Chinese restaurant and nightclub operator Hakkasan handed outgoing boss Neil Moffitt a $50.5m (£39m) golden goodbye last year, sending its finances even further into the red.

The payout came despite a difficult year of trading for Hakkasan, which ­caters to a high-rolling clientele in London and Las Vegas, including through its eponymous Michelin-starred eatery and the Yauatcha dim sum chain. Abu Dhabi-owned Hakkasan shouldered losses of $145m in the 12 months to June 2017 – equivalent to almost half its turnover and well above the previous year’s $56m deficit.

Revenues fell 7pc to $314m, including an 11pc drop in the UK, where it was affected by the poor performance of its fine dining concept...